Generac Holdings Inc. (NYSE:GNRC)

The quarterly financial data reveals several notable trends and shifts across liabilities and equity components over the observed periods.

Short-term borrowings

Short-term borrowings fluctuated with a general upward trajectory toward the later periods. Initial values near $20,000 to $30,000 thousand increased markedly from early 2021 onward, reaching peaks exceeding $84,000 thousand by mid-2022. This indicates increasing reliance on short-term debt in recent quarters.

Accounts payable

Accounts payable showed a consistent growth trend over the years, rising from approximately $159,000 thousand in early 2017 to over $697,000 thousand by mid-2022. This steady increase suggests expanding operational scale or extended payment terms with suppliers.

Accrued wages and employee benefits

This item exhibited some volatility but generally trended upward, starting at around $22,000 thousand in 2017 and increasing to about $61,000 thousand by mid-2022. Spikes were noted in late 2020 and late 2021, reflecting possible changes in workforce costs or accrual timing.

Other accrued liabilities

Other accrued liabilities rose meaningfully from approximately $92,000 thousand in early 2017 to over $415,000 thousand by mid-2022, with accelerated growth particularly visible after 2020. This may indicate increasing miscellaneous accruals or contingency provisions.

Current portion of long-term borrowings and finance lease obligations

Values here were generally low relative to other liabilities, with occasional spikes, notably in September 2017 and September 2018. These short-term portions remained modest and relatively stable through to mid-2022.

Current liabilities

Current liabilities increased overall from about $316,000 thousand in early 2017 to a peak of over $1,253,000 thousand in early 2022, followed by a slight decline in mid-2022 to approximately $1,172,000 thousand. This growth reflects expansions in multiple current liability components.

Long-term borrowings and finance lease obligations, excluding current portion

Long-term borrowings remained relatively stable around $900,000 thousand through 2017 to 2020 but showed a marked increase starting late 2021, reaching approximately $1,286,000 thousand by mid-2022, indicating increased long-term debt.

Deferred income taxes

Deferred income taxes steadily increased from about $27,000 thousand in early 2017 to a peak near $206,000 thousand in early 2022, followed by a reduction to approximately $152,000 thousand in mid-2022. The overall upward trend may reflect growing temporary differences or tax timing.

Operating lease and other long-term liabilities

This category showed continuous growth from roughly $62,000 thousand in 2017 to about $360,000 thousand by mid-2022, with particularly rapid increases after 2020, possibly due to adoption of new lease accounting standards or increased lease obligations.

Long-term liabilities

Long-term liabilities gradually increased from approximately $1,097,000 thousand in 2017 to around $1,798,000 thousand by mid-2022, with notable acceleration in recent years, reflecting the aggregate increase in long-term borrowings, deferred taxes, and lease liabilities.

Total liabilities

Total liabilities climbed steadily from about $1,413,000 thousand in early 2017 to nearly $2,970,000 thousand by mid-2022, with vacillations tied mainly to current and long-term liabilities, highlighting overall expansion in obligations.

Redeemable noncontrolling interests

Noncontrolling interests fluctuated moderately, mostly within the range of $33,000 to $83,000 thousand, showing a gradual increase over the period but with variability suggesting changing participation of minority shareholders.

Common stock, par value

Common stock par value remained stable around $705 to $727 thousand, indicating minimal share issuance or repurchase at the par value level.

Additional paid-in capital

There was a substantial and accelerating increase in additional paid-in capital over time, from about $452,000 thousand in 2017 to nearly $968,000 thousand by mid-2022. A pronounced surge occurs after early 2021, suggesting significant equity financing or issuance events.

Treasury stock, at cost

Treasury stock values increased in negative magnitude consistently, moving from approximately -$264,000 thousand in 2017 to around -$475,000 thousand by mid-2022, with a sharp increase in repurchases starting in 2021, reflecting an expanded stock buyback activity.

Excess purchase price over predecessor basis

This intangible asset component remained constant at -$202,116 thousand throughout the periods, indicating no impairments or adjustments.

Retained earnings

Retained earnings showed strong and continuous growth, increasing steadily from $469,000 thousand in 2017 to over $2,210,000 thousand by mid-2022, indicating sustained profitability and accumulation of earnings over time.

Accumulated other comprehensive loss

This item displayed considerable volatility with large negative values fluctuating between approximately -$8,000 thousand and -$83,000 thousand. The losses deepened notably in certain quarters, reflecting unrealized losses or adjustments in comprehensive income components.

Stockholders’ equity attributable to Generac Holdings Inc.

Equity attributable to the company rose significantly from around $420,000 thousand in 2017 to nearly $2,419,000 thousand by mid-2022, indicating growth in net assets, largely driven by increases in retained earnings and additional paid-in capital despite rising treasury stock.

Noncontrolling interests

Minority interests remained relatively small in magnitude and fluctuated slightly positive and negative, showing minor changes in ownership interests outside of the parent company.

Total stockholders’ equity

Total equity followed the same upward trend as attributable equity, consistent with overall growth in net assets and shareholder wealth.

Total liabilities and stockholders’ equity

The total of liabilities and equity increased markedly from about $1,867,000 thousand in early 2017 to approximately $5,473,000 thousand by mid-2022, indicating substantial growth in company scale and capital structure.

Overall, the financial data indicates that the company has experienced expansive growth in both liabilities and equity over the analyzed period. Increases in accounts payable, accrued liabilities, and borrowing suggest growing operational activities and investment financing. Concurrently, steady growth in retained earnings and equity capital reflects sustained profitability and investor confidence. The notable rise in treasury stock in recent years points to active share repurchase strategies. The trends suggest a dynamic financial position with increased leverage balanced by robust equity growth.